2023 began and with it a new opportunity to set more goals, be they professional, personal or financial. Count on him saving habitIt will undoubtedly make it easier to achieve them. Specialists of the ABC of the Bank of Credit of Peru (BCP) share some tips to learn to save, start the year on the right foot and not be ‘hanged’ with debts every end of the month:
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1. NAME YOUR SAVINGS (GOALS). Knowing what you want to achieve will be your motivation to save and be constant. For example, the initial of your ‘depa’, the repair of your house or that trip you always wanted.
2. ORDER YOUR FINANCES. Identify your monthly income and expenses, set up a budget and, most importantly, stick to it. This will give you greater clarity about the amount that you can allocate to savings.
3. SEPARATE YOUR SAVINGS. Avoid the temptation to spend them and open an additional account that allows you to have this money separate from the one you use daily.
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4. BE REALISTIC. We’d all like to be able to save large sums of money up front, but it’s not always possible. You must set yourself achievable goals that adapt to your possibilities.
5. BE CONSTANT. No habit is created overnight. With organization, effort and discipline you can achieve it. Even if you save a sun, it will help you form the habit.
DID YOU KNOW…
You should monitor your finances periodically and verify that you are meeting your budget. In case you realize that it is not, it is time to reduce or eliminate expenses.
YOU SHOULD ALSO DO
For Luis Ormeño, Head of Alliances and Financial Health at Alfin Bancoit is necessary that you add the following points to your good financial start 2023:
♦Create a savings fund. Always save a part of your salary, it does not matter if it is little money. This will allow you to live more calmly because you can be covered for an emergency or unforeseen event. Remember that if you don’t use this savings, you can spend it on a vacation or buy something. Do not keep the money under the mattress, it is better to put it in a savings account that allows you to earn interest. We recommend starting with 10% of your income.
♦Analyze a possible indebtedness well. If you are thinking of requesting a loan, you should carefully analyze your borrowing capacity. This way you can ensure your peace of mind and the maintenance of your healthy finances. If you have already made the decision, quote the best alternatives and study the amount you need carefully, do not borrow more than you should.
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